$563.75 Million in Sales Expected for Snyder's-Lance Inc (LNCE) This Quarter

Equities research analysts predict that Snyder's-Lance Inc (NASDAQ:LNCE) will report $563.75 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Snyder's-Lance’s earnings, with the highest sales estimate coming in at $564.50 million and the lowest estimate coming in at $563.00 million. Snyder's-Lance posted sales of $556.16 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.4%. The company is scheduled to announce its next earnings results before the market opens on Tuesday, February 20th.

On average, analysts expect that Snyder's-Lance will report full-year sales of $563.75 million for the current fiscal year. For the next fiscal year, analysts anticipate that the business will post sales of $2.23 billion per share, with estimates ranging from $2.19 billion to $2.27 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Snyder's-Lance.

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LNCE has been the subject of several recent analyst reports. Deutsche Bank set a $50.00 target price on shares of Snyder's-Lance and gave the company a “buy” rating in a research note on Friday, December 15th. Zacks Investment Research upgraded shares of Snyder's-Lance from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Wednesday, October 18th. SunTrust Banks raised their target price on shares of Snyder's-Lance to $50.00 and gave the company a “hold” rating in a research note on Tuesday, December 19th. TheStreet downgraded shares of Snyder's-Lance from a “b” rating to a “c+” rating in a research note on Tuesday, November 7th. Finally, BMO Capital Markets downgraded shares of Snyder's-Lance from an “outperform” rating to a “market perform” rating and set a $43.00 target price for the company. in a research note on Monday, December 18th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Snyder's-Lance currently has an average rating of “Hold” and a consensus price target of $45.83.

Shares of Snyder's-Lance (NASDAQ LNCE) opened at $49.95 on Tuesday. The firm has a market cap of $4,862.85, a P/E ratio of -96.06, a price-to-earnings-growth ratio of 3.28 and a beta of 0.64. Snyder's-Lance has a one year low of $31.03 and a one year high of $50.67. The company has a quick ratio of 0.99, a current ratio of 1.63 and a debt-to-equity ratio of 0.58.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Thursday, February 22nd will be issued a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.28%. Snyder's-Lance’s dividend payout ratio is currently -123.08%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings in shares of Snyder's-Lance by 17.9% in the second quarter. PNC Financial Services Group Inc. now owns 3,060 shares of the company’s stock worth $107,000 after buying an additional 465 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Snyder's-Lance by 5.3% in the second quarter. Public Employees Retirement System of Ohio now owns 4,272 shares of the company’s stock worth $148,000 after buying an additional 214 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Snyder's-Lance by 235.7% in the third quarter. Envestnet Asset Management Inc. now owns 4,246 shares of the company’s stock worth $162,000 after buying an additional 2,981 shares during the last quarter. Prospera Financial Services Inc purchased a new position in shares of Snyder's-Lance in the fourth quarter worth $200,000. Finally, Shelton Capital Management purchased a new position in shares of Snyder's-Lance in the third quarter worth $204,000. 64.23% of the stock is owned by institutional investors and hedge funds.

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